The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP targets for the periods indicated below.
GAAP to Non-GAAP Reconciliation of Second Quarter Fiscal Year 2020 Targets (1) | |||
(in thousands, except per share amounts) | |||
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| Range for Three Months | ||
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| Ending April 30, 2020 | ||
|
| Low |
| High |
Target GAAP expenses | $ 724,000 |
| $ 758,000 |
Adjustments: |
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|
|
Estimated impact of amortization of intangible assets | (23,000) |
| (25,000) |
Estimated impact of stock compensation | (56,000) |
| (59,000) |
Estimated impact of restructuring charges | - |
| (9,000) |
Target non-GAAP expenses | $ 645,000 |
| $ 665,000 |
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| Range for Three Months | ||
|
| Ending April 30, 2020 | ||
|
| Low |
| High |
Target GAAP earnings per share | $ 0.49 |
| $ 0.62 |
Adjustments: |
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|
|
Estimated impact of amortization of intangible assets | 0.16 |
| 0.15 |
Estimated impact of stock compensation | 0.38 |
| 0.36 |
Estimated impact of restructuring charges | 0.06 |
| - |
Estimated impact of tax adjustments | (0.13) |
| (0.12) |
Target non-GAAP earnings per share | $ 0.96 |
| $ 1.01 |
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Shares used in non-GAAP calculation (midpoint of target range) | 154,500 |
| 154,500 |
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GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2020 Targets(1) | |||
(in thousands, except per share amounts) | |||
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| Range for Fiscal Year | ||
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| October 31, 2020 | ||
|
| Low |
| High |
Target GAAP expenses | $ 2,950,777 |
| $ 2,999,777 |
Adjustments: |
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|
Estimated impact of amortization of intangible assets | (86,000) |
| (91,000) |
Estimated impact of stock compensation | (222,000) |
| (227,000) |
| Acquisition-related costs | (3,777) |
| (3,777) |
| Estimated impact of restructuring charges | (9,000) |
| (18,000) |
| Target non-GAAP expenses | $ 2,630,000 |
| $ 2,660,000 |
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| Range for Fiscal Year | ||
|
| October 31, 2020 | ||
|
| Low |
| High |
| Target GAAP earnings per share | $ 3.68 |
| $ 3.87 |
| Adjustments: |
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| Estimated impact of amortization of intangible assets | 0.59 |
| 0.56 |
| Estimated impact of stock compensation | 1.47 |
| 1.44 |
| Acquisition-related costs | 0.02 |
| 0.02 |
| Estimated impact of restructuring charges | 0.12 |
| 0.06 |
| Impact of tax adjustments | (0.70) |
| (0.70) |
| Target non-GAAP earnings per share | $ 5.18 |
| $ 5.25 |
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| Shares used in non-GAAP calculation (midpoint of target range) | 154,500 |
| 154,500 |
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| (1) Synopsys' second fiscal quarter and fiscal year will end on May 2, 2020 and October 31, 2020, respectively. For presentation purposes, we refer to the closest calendar month end. |
